Don't Panic!
02.20.09 -- 4:03PM
By Josh Marshall
According to CNBC, BofA CEO Ken Lewis sent a memo out to employees today saying the bank was well capitalized, that the credit markets are easing up and absolutely, positively not to believe the nationalization rumors.
Says Lewis: "Our company continues to be profitable. We see no reason why a company that is profitable with strong levels of capital and liquidity and that continues to lend actively should be considered for nationalization."
Late Update: It's a bit unclear now whether this was an internal staff memo or a statement released more broadly.
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